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Massachusetts

585-Third-St.-Cambridge
DevelopmentLeasing ActivityLife SciencesMassachusettsNortheast

Takeda Signs 600,000 SF Life Sciences Lease in Cambridge’s Kendall Square Area

by Taylor Williams

CAMBRIDGE, MASS. — Japanese pharmaceutical giant Takeda has signed a 600,000-square-foot life sciences lease in Cambridge’s Kendall Square neighborhood. Takeda will occupy the entirety of the 16-story building at 585 Third St., which is being developed by San Diego-based REIT BioMed Realty and is slated for a 2026 completion. CBT Architects designed the facility, which will include 15,000 square feet of flexible space and a 300-seat theater, both of which will be open to the public. CBRE represented BioMed Realty in the lease negotiations. Cushman & Wakefield represented Takeda.

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Cabot-Cabot-Forbes-Woburn
DevelopmentLife SciencesMassachusettsNortheast

Cabot, Cabot & Forbes to Develop 300,000 SF Life Sciences Campus in Woburn, Massachusetts

by Taylor Williams

WOBURN, MASS. — Locally based firm Cabot, Cabot & Forbes has filed plans with the Planning Board of the City of Woburn, a northern suburb of Boston, to develop a 300,000-square-foot life sciences campus. Plans call for a 175,000-square-foot lab and office building and a 135,000-square-foot manufacturing facility. Cushman & Wakefield has been tapped to lease the project. The developer expects to receive the necessary permits and approvals by the end of the summer.

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AcquisitionsMassachusettsNortheastRetail

Atlantic Capital Partners Arranges $32.8M Sale of Boston Retail Center

by Taylor Williams

BOSTON — Atlantic Capital Partners, a division of brokerage firm Atlantic Retail, has arranged the $32.8 million sale of The Shops at Riverwood, a 78,484-square-foot retail center in Boston’s Hyde Park neighborhood. Developed in phases by Finard Properties, the center was fully leased at the time of sale to tenants such as Burger King, Starbucks, Boston Medical and Planet Fitness. Justin Smith, Chris Peterson, Sam Koonce, Cole Van Gelder and Ben Starr of Atlantic Capital Partners represented the buyer, Urban Edge Properties, and the seller in the transaction.

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225-Wyman-Waltham
DevelopmentLife SciencesMassachusettsNortheast

Hobbs Brook Delivers 507,000 SF Office, Life Sciences Project in Metro Boston

by Taylor Williams

WALTHAM, MASS. — Hobbs Brook Real Estate has delivered 225 Wyman, a 507,000-square-foot office and life sciences project located in the western Boston suburb of Waltham. The five-story building sits on a six-acre site and features 43,500 square feet of indoor amenity space, as well as outdoor event space. In addition, 225 Wyman offers an onsite parking garage with a covered walkway connector. The property was 96 percent leased at the time of its opening to tenants such as Seqirus, ElevateBio BaseCamp and Pegasystems.

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38-Upton-Drive-Wilmington
DevelopmentIndustrialLoansMassachusettsNortheast

Middlesex Savings Bank Provides $39.1M Construction Loan for Metro Boston Industrial Project

by Taylor Williams

WILMINGTON, MASS. — Middlesex Savings Bank has provided a $39.1 million construction loan for a 214,440-square-foot industrial project in Wilmington, a northern suburb of Boston. The two-building development is scheduled for a January 2023 completion and will feature a clear height of 32 feet, ESFR sprinkler systems and ample car and trailer parking. Brett Paulsrud and Jonathan Schneider of JLL, working with Middlesex’s Nick Giberson, arranged the loan on behalf of the borrower, Boston-based Davis Cos.

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AcquisitionsMassachusettsMultifamilyNortheast

Scully Co. Acquires 128-Unit Bixby Apartments in Haverhill, Massachusetts

by Taylor Williams

HAVERHILL, MASS. — Scully Co., a multifamily investment firm based in Pennsylvania, has acquired The Bixby, a 128-unit apartment complex in the northern Boston suburb of Haverhill. The transit-oriented property features studio, one-, two- and three-bedroom units. Amenities include a resident lounge with games and TVs, an entertainment kitchen, 24-hour fitness center, package handling room and a dog park. Adam Dunn and Chris Phaneuf of Berkadia represented the seller, Blackfin Real Estate Investors, in the transaction. Robert Falese, also with Berkadia, originated a $24.4 million Freddie Mac acquisition loan on behalf of Scully Co., which plans to upgrade unit interiors and common areas.

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One-Patriots-Park-Bedford
AcquisitionsLife SciencesMassachusettsNortheast

Newmark Brokers $132M Sale of Life Sciences Complex in Bedford, Massachusetts

by Taylor Williams

BEDFORD, MASS. — Newmark has brokered the $132 million sale of One Patriots Park, a 143,553-square-foot life sciences complex in Bedford, a northwestern suburb of Boston. The seller, Jumbo Capital Inc., redeveloped the property in 2019 to support life sciences users. At the time of sale, four such tenants — Homology Medicines Inc., N2 Biomedical, Frontera Therapeutics and Obsidian Therapeutic — occupied the entirety of the facility. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented Jumbo Capital and procured the buyer, Barings, in the transaction.

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AcquisitionsIndustrialMassachusettsNortheast

Arden Logistics Parks Buys Southeast Massachusetts Industrial Portfolio for $160M

by Taylor Williams

BOSTON — Arden Logistics Parks, the industrial investment arm of Philadelphia-based Arden Group, has purchased a portfolio of eight industrial properties totaling roughly 1.3 million square feet that are located throughout southeast Massachusetts. The sales price was $160 million. Specifically, the properties, which were built between 1968 and 2016, are located in Mansfield, Fall River, New Bedford, Seekonk, Attleboro and Norton. Scott Dragos, Chris Skeffington, Doug Jacoby, Anthony Hayes, Tim Mulhall, Roy Sandeman and Dan Hines of CBRE represented the seller, Westbrook Partners, in the transaction. At the time of sale, the portfolio was 97 percent leased to 23 tenants, including Nestle, T-Mobile, Displays2Go and Whirlpool.

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AcquisitionsMassachusettsNortheastOffice

Newmark Negotiates 375,058 SF Sale of Office Campus in Wellesley, Massachusetts

by Taylor Williams

WELLESLEY, MASS. — Newmark has negotiated the sale of Park 9, a 375,058-square-foot office campus in Wellesley, a western suburb of Boston. The four-building development is leased to tenants such as Sun Life, Morgan Stanley and Boston Children’s Hospital and includes a 120,000-square-foot structure with immediate life sciences conversion potential. Robert Griffin, Edward Maher, Matthew Pullen and Samantha Hallowell of Newmark represented the seller, BentallGreenOak on behalf of Sun Life, in the transaction and procured the buyer, Beacon Capital Partners.

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AcquisitionsMassachusettsNortheastRestaurantRetail

Tishman Speyer Sells Retail Condo in Boston’s Seaport District for $12M

by Taylor Williams

BOSTON — New York City-based real estate giant Tishman Speyer has sold Pier 4 Retail, a 16,134-square-foot retail condo in Boston’s Seaport District for $12 million. Built in 2019, the property was fully leased to two restaurant concepts at the time of sale. Chris Angelone, Nat Heald, Kellie Coveney and Zach Nitsche of JLL represented Tishman Speyer in the transaction. The buyer was not disclosed.

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